Both paths get you a brand-new investment property — but they suit very different investors, cash positions and timelines. Here’s how to choose.
The quick definitions
- Turnkey: a completed (or near-completed) home you can settle and tenant immediately. Fixed price, fixed inclusions, no decisions left to make. In our current stock, turnkey homes are live in suburbs like Tarneit, Deanside and Cranbourne East.
- House and land: you buy the block and a build contract. You sign today at today’s price, but construction (and rent) comes later — typically 12–18 months out, with deposit paid first and the balance drawn in stages.
Turnkey: pay a little more, start earning now
A turnkey property costs more upfront because the builder has carried the construction cost and risk for you. In exchange, you get:
- Rent from day one. Several of our current turnkey homes are already tenanted — our Deanside homes project $550–$600 per week from settlement.
- One price, no surprises. Fixed-price contracts with inclusions locked in — no variation claims mid-build.
- No construction management. You’re not fielding builder calls or approving variations.
Turnkey suits investors who want their money working immediately, or who are buying in a rising market where waiting a year means paying more for the same product.
House and land: pay less, wait longer
The trade-off for the wait is a lower total price and a staged payment schedule. You typically pay around 10% deposit on the land and 5% on the build, with the balance only drawn as construction progresses — so you’re not servicing a full mortgage during the build. Two-part contracts can also mean stamp duty savings, because duty is generally calculated on the land value at settlement rather than the completed package.
House and land suits investors with a smaller upfront budget and the patience to fund deposits while waiting for titles — and it’s the classic first-investment move in growth corridors like Clyde North and Beveridge.
The verdict
There’s no universal winner — it comes down to cash flow versus capital efficiency:
- Want income now and zero hassle? Turnkey.
- Want the lowest total price and staged payments? House and land.
- Doing both? Many investors run one of each: turnkey for cash flow, house and land for growth.
See both, side by side
Every listing on our deals site is tagged with its contract type, expected availability and projected rent: browse current listings. Or book a free strategy call and we’ll compare live examples in your budget.